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No one is interested...................
I created a new Board for Tradestream Global
http://www.investorshub.com/boards/board.asp?board_id=4345
The transaction is terminated...
http://biz.yahoo.com/pz/050901/85074.html
http://www.tradestreamglobal.com/
http://finance.yahoo.com/q?s=TGLC.OB
Sorry Tanail.
It all feaked me out enough that I never bought. IMHO the only thing worse then not making money is losing it so... hope you did OK.
PNDR was into something else before PNDR and then clearly this horse manure about VTGL and now in the blink of an eye TGLC? Would have been nice to have moved out above where you did but, the dirty could still hit the fan.
Heck, I don't know! I should not say what I just said. I simply can't figure out what these folks are up to and that scares me.
Hey, best wishes to all that are still holding.
neither can I ... plus I'm kicking my self now for selling at .35
figured it would go into ovlibion....
B
And, the chaos continues?
I still can't get a handle on this....?
http://www.knobias.com/individual/public/news.htm?eid=3.1.5db4f5e49f483272ef88c271b52611fb77bdfdd4c3...
What the ??? - TGLC?
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3590545
Item 1.02 - TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
As previously reported by Tradestream Global Corp. (formerly Vianet Technology Group Limited) ("Registrant") through news releases on July 1, 2005 and July 7, 2005, and a Current Report on Form 8K filed on July 7, 2005, the Registrant had entered into an agreement of merger with Vianet Direct, Inc., with the transaction being subject to the execution and approval of a definitive merger agreement as well as certain closing conditions and due diligence requirements.
As the Registrant and Vianet Direct, Inc. were not able to agree upon the definitive terms and conditions of the merger or the due diligence procedures, the Board of Directors of the Registrant, at a Special Meeting held on July 22, 2005, formally approved the decision by Management of the Registrant to terminate such merger negotiations with Vianet Direct, Inc., and the Registrant is currently proceeding with negotiations with other prospective merger or acquisition candidates.
ITEM 5.03 - AMENDMENTS TO ARTICLES OF INCORPORATION OR BY-LAWS
The Registrant has amended its Certificate of Incorporation to change its name to Tradestream Global Corp. effective immediately. The Registrant's new OTC trading symbol as of Thursday, July 28, 2005 is "TGLC".
'VIANET' is a name that any one can use.......
VTGL don't have to change anything, perhaps, it can think of starting a new internet company and keeping the name Vianet Technology Group LTD
I have no idea what happened today?
In any event, good luck to you Tanail and thanks for jumping in and putting the board together at a moments notice. It was helpful.
Hey, if what is being suggested does turns out to be true you just may qualify for any subsequent class action suit/s? Not that those darn things ever pay off :(
I'm glad that I was interested enough to watch though even more so that I never pulled the buy trigger.
.... ok, I just dumped my shares.... GL to everyone still in this !
If anyone wants to take over managing the board let me know
B
Something is going on, the stock is kind of active and going up to 43cents
.... hmmmm is there news out of some sort ?..... there seems to be lots of buying in the last half hour -- all at the ask
B
thanks... i'm trying to catch up right now.
I skimmed the RB .... somone posted the ligitimate question of why this did not go over the wire i.e. why was it only posted on the website ?
Does anyone have an answer to this ?
B
.... i fear I will have to dump my shares tomorrow. This is not looking good.
Re: Not Found
Hummm? It's on the VIANET Direct, Inc website. No matter, I'll copy/paste it. Perhaps I should have to start with. Respects and best wishes to all. (disclosure: I never bought. Darn interested but never pulled the trigger)
PRESS RELEASE
VIANET Direct, Inc. Announces Merger With Vianet Technology Group Limited Will Not Be Effected
NEW YORK, New York – July 15, 2005 - VIANET Direct, Inc. and VIANET Technology Group Limited (“VTGL”) (OTCBB: VTGL.OB) have agreed to not go forward regarding a preliminary merger agreement between the parties that had been announced by VTGL on July 1, 2005 and elaborated upon by VIANET Direct on July 7, 2005. In the latter release, VIANET Direct had disclosed that the agreement between the parties was preliminary and subject to a number of conditions, and that because “the parties have not completed their due diligence review of each other, there can be no assurance that the parties will consummate the merger according to the terms set forth above or that the parties will consummate the merger.” In connection with the mutual decision by the parties to not complete the merger, VIANET Direct has requested that VTGL promptly cease and desist using the name “VIANET” in its company name.
VIANET Direct is a real time, virtual, interactive and anonymous block trading system for all types of equity securities. VIANET Direct provides an electronic platform in which institutions and financial intermediaries are directly linked to the largest pool of liquidity, the exchanges on which the securities are traded. A block trading system, VIANET Direct provides for direct access, continuous order matching, timed crossing sessions, initiation of auctions and the ability to electronically search for hidden liquidity in the marketplace.
Contact:
James Wilent
President and Chief Executive Officer
212-837-7701
jwilent@vianetdirect.com
PRESS RELEASE
VIANET Direct, Inc. Announces Preliminary Agreement To Merge With Vianet Technology Group Limited.
NEW YORK, New York - July 7, 2005 -VIANET Direct, Inc. has reached a preliminary agreement with VIANET Technology Group Limited (OTCBB: VTGL.OB) pursuant to which the parties anticipate that VIANET Acquisition Corp., a newly formed subsidiary of VIANET Technology Group Limited, will merge with and into VIANET Direct, with VIANET Direct as the surviving corporation. The parties anticipate that VIANET Technology Group Limited will issue an aggregate of approximately 21,000,000 shares of its common stock on a fully diluted basis to the holders of VIANET Direct's issued and outstanding common stock, warrants and stock options. Subsequent to the merger, VIANET Direct anticipates that its stockholders on the closing date will own approximately 78% of the common stock of VIANET Technology Group Limited on a fully diluted basis.
The consummation of the merger is subject to standard closing conditions including:
" execution of a definitive merger agreement that is approved by each corporation's board of directors; " approval of the definitive merger agreement and the merger by the stockholders of each corporation; " receipt of all permits, authorizations, regulatory approvals and third party consents (including, but not limited to, NASD approval of the transaction) necessary for the consummation of the merger; " satisfaction of all applicable legal requirements, including compliance with all applicable federal and state securities laws; " resignation of all of VIANET Technology Group Limited's present officers and directors, who shall be replaced by officers and directors selected by VIANET Direct; and " the merger must qualify as a tax-free transaction to each of VIANET Technology Group Limited, VIANET Direct and VIANET Direct's stockholders.
In addition, VIANET Technology Group Limited has agreed that, as of the closing date of the merger, it:
" shall not have any debts or liabilities, contingent or otherwise; " shall have no more than 5,960,000 issued and outstanding shares of common stock; " shall have valid collectible accounts receivable, notes receivable or cash of at least $3.25 million.
As the agreement between the parties is a preliminary agreement subject to the conditions set forth above, and the parties have not completed their due diligence review of each other, there can be no assurance that the parties will consummate the merger according to the terms set forth above or that the parties will consummate the merger.
VIANET Direct, Inc. is a real time, virtual, interactive and anonymous block trading system for all types of equity securities. VIANET Direct, Inc. provides an electronic platform in which institutions and financial intermediaries are directly linked to the largest pool of liquidity, the exchanges on which the securities are traded. A block trading system, VIANET Direct, Inc. provides for direct access, continuous order matching, timed crossing sessions, initiation of auctions and the ability to electronically search for hidden liquidity in the marketplace.
VIANET Technology Group Limited, formerly Pender International, Inc., previously announced the sale of its wholly-owned subsidiaries Montebello Developments Corp. and IMM Investments, Inc.
Contact:
James Wilent
CEO / President
212-837-7701 Jwilent@vianetdirect.com
*
The 71st Annual STA Conference and Business Meeting
Boca Raton Resort & Club, Boca Raton, Florida
October 6 - 10th, 2004
http://www.securitytraders.org/71st_conference_info.html
*
11th International Conference on Hedge Fund Investments
Fairmont Southampton Princess
Bermuda
September 19 - 21 2004
http://www.marhedge.com/conferences/bermuda/bermuda.htm
*
STA Dallas Convention
Dallas Four Seasons Resort
Dallas, TX
September 9 - 12, 2004
* Wall Street Letter January 11, 2004
'...As Black Box Stands To Gain Under New Management'
* INVESTMENT DEALERS' DIGEST December 15, 2003
'Bringing Rebel Technology to the Big Board's Floor'
* Wall Street Letter July 27, 2003
'Specialists, Brokers Boost VIA-NET Black Box'
* Traders Magazine November 2002
'at deadline' page 8, 'NYSE Crossing'
* Wall Street Letter October 20, 2002
'NYSE Members to Create Trading Systems to Take on Big Board's Matching Facility'
I was out of town all week. What happened here ?? ... how come we tanked this bad ?
B
Not Found
The requested URL /news.asp was not found on this server.
VIANET Direct, Inc. Announces Merger With Vianet Technology Group Limited Will Not Be Effected
http://www.vianetdirect.com/news.asp
News is comimg out that the deal is not happening
Great info on RB.
Go and check out info - DD posted by Waltczyk.
It's a great read about the industry that VTGL is in.
GLTA,
You PNDR's making any money?
How is all of this shaking out?
..... so what happend..... ?? I'm out of town for one day and my stock tanks - hmmm......
B
well, i figured that the PNDR board was yours, so I added you as an assistant
B
Wow, I didn't even know I was an assistant here. Thanks! Nice board! Interesting situation with this stock now.
Metals and mining stocks are having a good day today...they seem to be breaking out of their 1 1/2-2 year bottoms (the juniors and developing co's). Just a head's up in case anyone hasn't noticed this.
Hey Tanail, could you please email me at penniesr4me@yahoo.com. TIA, Vic
Thanks Gielda, I saw that, but I'm not sure I understand it.
Do they have a unique product ? Do other people offer similar services ?
good weekend to all !
B
In general, they provide access to the NYSE (used mostly by financial institutions; no retail).
From Vianet Direct website:
VIANET’s suite of products are at the forefront of electronic trading and yet, leverage existing systems used by the marketplace and the NYSE.
VROUTESM (VIANET Order Routing)
VTACSM (VIANET Timed Anonymous Cross)
VSPASM (VIANET Suggested Price Auction)
VSEARCHSM (VIANET Intraday Search System)
http://63.135.115.64/products.asp
Here are some FAQ:
1. How is VIANET different?
The advantages of VIANET include a robust technology that permits multiple institutions to interactively negotiate and execute block orders in an absolute anonymous trading environment. This system is geared to execute “fast” at the best market price, as well as “slower” as part of the auction market, working orders and taking advantage of price discovery. This hybrid capability allows the institution to choose the most suitable method of execution that best fits their strategy while always minimizing market impact.
2. What is a Primary Stock Broker (PSB)?
The PSB is a fully automated agency broker on the New York Stock Exchange. Our PSBs connect to VIANET using their existing wireless hand-held devices. Each PSB represents network orders based upon their assigned floor locations and particular expertise in specific crowds. VIANET’s network consists of over 100 PSBs, which allows for 5-7 brokers per post. The size of this network permits VIANET to thoroughly cover all equities represented on the floor of the NYSE.
To Top
3. How do I connect to VIANET?
VIANET’s model allows customers to utilize their existing order management systems (OMSs) to interact with a variety VIANET products. VIANET can support order routing from these OMSs over any FIX interface and through an array of pre-existing networks. We have already been certified with the following network providers:
Macgregor
Traderoute (Charles River, Eze Castle, Linedata, Advent)
Tradeware
TNS
4. What types of firms participate in VIANET?
VIANET invites all market participants in the buy and sell side communities to participate in VIANET’s suite of products. VIANET excludes all retail customers from interacting with the system.
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5. How do I become a VIANET customer?
VIANET is open to all broker dealers and buy-side participants. Potential customers simply complete a client information sheet and VIANET will coordinate with the appropriate order management systems and network providers for seamless connectivity to your existing systems. For more information please contact our sales department at 212.747.0019.
6. Does VIANET provide pre / post trade anonymity?
VIANET provides full anonymity throughout its processing; from pre-trade all the way through clearing and settlement. All customer transactions are cleared and allocated between the customer and VIANET, enabled through VIANET’s clearing relationship with Merrill Lynch Broadcort. VIANET interfaces directly with Oasys and Alert products for electronic allocation processing.
To Top
7. What type of trade support does VIANET offer?
VIANET maintains a control desk at our New York office. Our highly trained staff is here to support our customer base, PSBs and internal staff. Control desk personnel can assist customers with new account set-ups, trade inquiries, technical problems, and clearing and settlement procedures. All representatives are fully licensed, and maintain complete anonymity for our customers.
8. What are the hours of operation and crossing session times?
Order Acceptance: 8:30AM – market close
Control Desk Assistance: 8:00 AM – 5:00 PM
VTAC, VIANET’s Timed Anonymous Cross, will initially conduct 10 crossing sessions each day at the following times:
9:50 AM
10:15 AM
10:45 AM
11:15 AM
11:45 AM
1:15 PM
2:15 PM
2:45 PM
3:15 PM
3:45 PM
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9. Where do trades execute in VIANET?
All VIANET orders in listed securities will be executed on the New York Stock Exchange. However, VIANET maintains the ability to internally execute orders and print on the third market. NASDAQ securities will utilize an internal execution.
10. How do trades settle?
VIANET outsources all clearing and settlement functions to Merrill Lynch Broadcort. Allocations can be received electronically from Oasys.
To Top
11. What is the difference between VTAC’s executions and existing crossing networks’ executions?
Unlike other crossing sessions, which match buyers and sellers internally and print third market, VIANET increases the execution rate by including unpublished floor liquidity into its cross.
12. How does VIANET charge?
VIANET is a registered NASD member firm that charges a per-share commission for each trade executed through the system. There are no fees for VIANET software or for connecting to our system.
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13. Do I need to subscribe to all VIANET products or can I pick and choose?
While we at VIANET believe you can benefit from participating in all of our products, each customer can choose amongst available products to find those most beneficial to their trading strategy.
14. What role does the NYSE have in VIANET?
VIANET’s system leverages all the products of Network NYSE; including NYSE+, Institutional Xpress, BBSS, and e-Broker and the new NYSE HYBRID Market.
http://63.135.115.64/faq.asp#faq2
GLTA,
Does anyone know what excatly Vianet sells ? It sounds good, but I can't say I get it...
B
hey chinesepender,
i saw you were spamming this board on the RB... nice going.
B
ps: I did notice that your alias was created only a few days ago and this is the only board you posted on....
So do we know, if they kept their financing deal ? Or was that all crapola anyway ?
B
The market maker box, also called Level II, gives you a picture of the market depth in a stock. All market makers and ECNs are listed, together with price and size information. On the left side of the screen you can see all the market participants willing to buy (Bid), and on the right side you can see those who want to sell (Ask). Share size is usually displayed in hundreds, so if you see "1.00 25 NITE 07:30 " on the left side of the screen, it means that the market maker with the identifier NITE wants to buy 2500 (size) shares of the stock at 1.00 (bid)
Ok, i figured it out. It looks like there are only 15,000 shares on the ask side all the way up to $5.
That should be a good thing, right ?
B
a question on the side:
when I look at level II I see
ask size MM time
1.00 25 NITE 07:30
what does size indicate ? (sorry, I'm new to looking at LII) Does 25 refer to 25*100 or 25*1000 shares or something completely different?
Thanks,
B
I skimmed through some of the posts on the RB. There is quite a bit of confusion there. Some people think it will tank, some people think it will run to $3-4. Some bashing now too.
Personally, I'm having fun with this one so far !
Any thoughts here on why VTGL might tank of soar ? Do we know anything about the financials of the company that is being absorbed?
B
Total outstanding shares of this VTGL is 26,960,000. Most compay has more than this.
The resignation of all officers and directors means nothing to Jangs, they are the Chairman and the President. So they are still in control.
Am I right?????????
Should be up day tomorrow.
Look at the last 30 min of trading.
8-K was out at 3:21pm.
57295 shares (43% of today's volume)were traded in the last half hour. All were bought on ask.
Don't you think it is some positive reaction to the 8-K?
Price Size Time
0.95 380 15:59:59
0.95 2500 15:59:14
0.95 5000 15:58:13
0.95 2500 15:57:58
0.94 5000 15:57:01
0.90 1500 15:56:04
0.90 7500 15:54:17
0.85 2000 15:50:11
0.90 2500 15:50:00
0.90 5000 15:47:07
0.85 10000 15:41:23
0.85 2500 15:37:10
0.85 5000 15:33:19
0.84 630 15:30:49
0.85 5000 15:30:49
0.80 285 15:27:19
GLTA,
Form 8-K for VIANET TECHNOLOGY GROUP LTD
7-Jul-2005
Entry into Material Agreement, Change in Assets, Change in FYE or Art
ITEM 1.01: ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
As more fully described in Item 2.01 below, on June 17, 2005, the Registrant entered into an Agreement of Purchase and Sale of Stock with Brookstreet Capital Corp. pursuant to which it sold all of the issued and outstanding capital stock of Montebello Developments Corp., its wholly-owned subsidiary, to Brookstreet Capital Corp. for $250,000 paid by delivery of a secured promissory note having a maturity date of June 30, 2010.
As more fully described in Item 2.01 below, on June 17, 2005, the Registrant entered into an Agreement of Purchase and Sale of Stock with Blazing Holdings, Inc. pursuant to which it sold all of the issued and outstanding capital stock of IMM Investments, Inc., its wholly-owned subsidiary, to Blazing Holdings, Inc. for $3,000,000 paid by delivery of a secured promissory note having a maturity date of June 30, 2010.
ITEM 2.01: ACQUISITION OR DISPOSITION OF ASSETS
The Registrant announced on June 30, 2005 that it had effected a corporate reorganization, including the sale of its wholly-owned subsidiaries.
On June 30, 2005, the Registrant completed the sale of all of the issued and outstanding shares of common stock of Montebello Developments Corp., the Registrant's wholly-owned property and land development subsidiary, to Brookstreet Capital Corp. pursuant to the terms of an Agreement of Purchase and Sale of Stock dated June 17, 2005. In exchange for the shares of Montebello Developments Corp., the Registrant received a promissory note in the principal amount of $250,000 that has a maturity date of June 30, 2010 (the "Maturity Date"). The principal amount of the promissory note accrues interest at a rate per annum equal to the prime rate of interest charged by Citibank, N.A. at its principal office plus two percent. Pursuant to the promissory note, interest is payable quarterly commencing September 30, 2005 and continuing each quarter through the Maturity Date. The entire principal amount of the Note and any remaining unpaid accrued interest is due and payable on the Maturity Date. In order to secure the performance of its obligations under the promissory note, Brookstreet Capital Corp. has granted the Registrant a security interest in the acquired Shares as well as in the assets of Montebello Developments Corp. pursuant to the terms of a Security Agreement dated June 30, 2005. As additional security, Brookstreet Capital Corp. has pledged the shares of Montebello Developments Corp. to Registrant pursuant to a Stock Pledge Agreement dated June 30, 2005. Brookstreet Capital Corp., is the beneficial owner of approximately 480,000 shares of Common Stock of the Registrant (approximately 8% of the issued and outstanding Common Stock after accounting for the reverse-split), and voted its shares to ratify and approve the transaction. The acquisition price of the shares of Montebello Developments Corp. was determined based upon good-faith negotiations between the parties.
On June 30, 2005, the Registrant completed the sale of all of the issued and outstanding shares of common stock of IMM Investments, Inc., the Registrant's wholly-owned natural resources subsidiary to Blazing Holdings, Inc. pursuant to the terms of an Agreement of Purchase and Sale of Stock dated June 17, 2005. In exchange for the shares of IMM Investments, Inc., the Registrant received a promissory note in the principal amount of $3,000,000 that has a maturity date of June 30, 2010 (the "Maturity Date"). The principal amount of the promissory note accrues interest at a rate per annum equal to the prime rate of interest charged by Citibank, N.A. at its principal office plus two percent. Pursuant to the promissory note, interest is payable quarterly commencing September 30, 2005 and continuing each quarter through the Maturity Date. The entire principal amount of the Note and any remaining unpaid accrued interest is due and payable on the Maturity Date. In order to secure the performance of its obligations under the promissory note, Blazing Holdings, Inc. has granted the Registrant a security interest in the acquired Shares as well as in the assets of IMM Investments, Inc. pursuant to the terms of a Security Agreement dated June 30, 2005. In addition, Blazing Holdings, Inc. has, as additional security, pledged the shares of IMM Investments, Inc. to Registrant pursuant to a Stock Pledge Agreement dated June 30, 2005. Prior to this transaction, there was no material relationship between Blazing Holdings, Inc. and the Registrant or any of its affiliates, or any director or officer of the Registrant or any associate of any such director or officer.
ITEM 5.03: AMENDMENTS TO ARTICLES OF INCORPORATION OR BY-LAWS, CHANGE IN FISCAL YEAR
Effective June 30, 2005, the Registrant amended its Certificate of Incorporation to change its name to VIANET Technology Group, Ltd. In conjunction with the change of the Registrant's name, effective July 1, 2005, the symbol under which the Registrant's common stock is eligible for quotation on the Over-The-Counter- Bulletin Board was changed to "VTGL."
Effective June 30, 2005, the Registrant also completed a 1-for-10 reverse stock split of its common stock. As a result of this action, the holder of each share of the Registrant's common stock now owns one-tenth of one share of common stock and the Registrant now has 5,958,672 issued and outstanding shares of common stock.
On June, 17, 2005, stockholders of the Registrant holding a majority of the issued and outstanding shares of the Registrant's common stock approved these actions by majority written consent. The Registrant intends to file an Information Statement with the Securities and Exchange Commission describing these transactions and, once approved, deliver this Information Statement to its stockholders who did not deliver a written consent to these actions.
ITEM 7.01: REGULATION FD DISCLOSURE
The Registrant has reached a preliminary agreement with VIANET Direct, Inc., a registered broker dealer with the National Association of Securities Dealers, Inc. ("NASD") whose products provide a real time, virtual, interactive, anonymous block trading system for all types of equity securities ("VIANET Direct"), pursuant to which the parties anticipate that a newly formed wholly-owned subsidiary of the Registrant will merge with and into VIANET Direct, with VIANET Direct as the surviving corporation. The Registrant anticipates that it will issue an aggregate of approximately 21,000,000 shares of its common stock on a fully diluted basis to the holders of VIANET Direct's issued and outstanding common stock, warrants and stock options. Subsequent to the merger, the Registrant anticipates that its stockholders will own approximately 22% of the common stock on a fully diluted basis.
The consummation of the merger is subject to standard closing conditions including:
* execution of a definitive merger agreement that is approved by each corporation's board of directors;
* approval of the definitive merger agreement and the merger by the stockholders of each corporation;
* receipt of all permits, authorizations, regulatory approvals and third party consents (including, but not limited to, NASD approval of the transaction) necessary for the consummation of the merger;
* satisfaction of all applicable legal requirements, including compliance with all applicable federal and state securities laws;
* resignation of all of the Registrant's present officers and directors, who shall be replaced by officers and directors selected by VIANET Direct; and
* the merger must qualify as a tax-free transaction to each of the Registrant, VIANET Direct and VIANET Direct's stockholders.
In addition, the Registrant has agreed that, as of the closing date of the merger, it:
* shall not have any debts or liabilities, contingent or otherwise;
* shall have no more than 5,960,000 issued and outstanding shares of common stock;
* shall have valid collectible accounts receivable, notes receivable or cash of at least $3.25 million.
Accordingly, there can be no assurance that the parties will consummate the merger.
VIANET Direct is a real time, virtual, interactive and anonymous block trading system for all types of equity securities. VIANET Direct provides an electronic platform in which institutions and financial intermediaries are directly linked to the largest pool of liquidity, the exchanges on which the securities are traded. A block trading system, VIANET Direct provides for direct access, continuous order matching, timed crossing sessions, initiation of auctions and the ability to electronically search for hidden liquidity in the marketplace.
ITEM 9.01: FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of business acquired.
(b) Pro-forma financial information.
(c) Exhibits.
2.1 Agreement of Purchase and Sale of Stock by and between Pender International, Inc. and Brookstreet Capital Corp. made June 17, 2005.
2.2 Agreement of Purchase and Sale of Stock by and between Pender International, Inc. and Blazing Holdings, Inc. made June 17, 2005.
10.1 Promissory Note dated June 30, 2005 in the principal amount of $250,000 issued by Brookstreet Capital Corp. to Pender International, Inc.
10.2 Stock Pledge Agreement dated June 30, 2005 by and between Brookstreet Capital Corp. and Pender International, Inc.
10.3 Security Agreement dated June 30, 2005 by and between Brookstreet Capital Corp. and Pender International, Inc.
10.4 Promissory Note dated June 30, 2005 in the principal amount of $3,000,000 issued by Blazing Holdings, Inc. to Pender International, Inc.
10.5 Stock Pledge Agreement dated June 30, 2005 by and between Blazing Holdings, Inc. and Pender International, Inc.
10.6 Security Agreement dated June 30, 2005 by and between Blazing Holdings Inc. and Pender International, Inc.
IBOX updated
B
The price is coming back and going up
the market doesn't seem to think so
B
yes... but what the hell does that mean ???
B
Total shares outstanding after the merger will be 26,960,000, and 21,000,000 goes to the old Vianet people, Pender people gets 5,960,000. With $3.25million in the account, no liability. This is GOOOOOOOD NEWS.
because:The parties anticipate that VIANET Technology Group Limited will issue an aggregate of approximately 21,000,000 shares of its common stock on a fully diluted basis to the holders of VIANET Direct's issued and outstanding common stock, warrants and stock options. Subsequent to the merger, VIANET Direct anticipates that its stockholders on the closing date will own approximately 78% of the common stock of VIANET Technology Group Limited on a fully diluted basis.
well, the immediate response to this PR was a tick down ....
B
-IBOX updated
VIANET Direct, Inc. Announces Preliminary Agreement to Merge With VIANET Technology Group Limited
NEW YORK, July 7, 2005 (PRIMEZONE) -- VIANET Direct, Inc. has reached a preliminary agreement with VIANET Technology Group Limited (OTCBB:VTGL) pursuant to which the parties anticipate that VIANET Acquisition Corp., a newly formed subsidiary of VIANET Technology Group Limited, will merge with and into VIANET Direct, with VIANET Direct as the surviving corporation. The parties anticipate that VIANET Technology Group Limited will issue an aggregate of approximately 21,000,000 shares of its common stock on a fully diluted basis to the holders of VIANET Direct's issued and outstanding common stock, warrants and stock options. Subsequent to the merger, VIANET Direct anticipates that its stockholders on the closing date will own approximately 78% of the common stock of VIANET Technology Group Limited on a fully diluted basis.
The consummation of the merger is subject to standard closing conditions including:
-- execution of a definitive merger agreement that is approved by
each corporation's board of directors;
-- approval of the definitive merger agreement and the merger by
the stockholders of each corporation;
-- receipt of all permits, authorizations, regulatory approvals
and third party consents (including, but not limited to, NASD
approval of the transaction) necessary for the consummation of
the merger;
-- satisfaction of all applicable legal requirements, including
compliance with all applicable federal and state securities laws;
-- resignation of all of VIANET Technology Group Limited's present
officers and directors, who shall be replaced by officers and
directors selected by VIANET Direct; and
-- the merger must qualify as a tax-free transaction to each of
VIANET Technology Group Limited, VIANET Direct and VIANET
Direct's stockholders.
In addition, VIANET Technology Group Limited has agreed that, as of the closing date of the merger, it:
-- shall not have any debts or liabilities, contingent or otherwise;
-- shall have no more than 5,960,000 issued and outstanding shares
of common stock;
-- shall have valid collectible accounts receivable, notes receivable
or cash of at least $3.25 million.
As the agreement between the parties is a preliminary agreement subject to the conditions set forth above, and the parties have not completed their due diligence review of each other, there can be no assurance that the parties will consummate the merger according to the terms set forth above or that the parties will consummate the merger.
VIANET Direct, Inc. is a real time, virtual, interactive and anonymous block trading system for all types of equity securities. VIANET Direct, Inc. provides an electronic platform in which institutions and financial intermediaries are directly linked to the largest pool of liquidity, the exchanges on which the securities are traded. A block trading system, VIANET Direct, Inc. provides for direct access, continuous order matching, timed crossing sessions, initiation of auctions and the ability to electronically search for hidden liquidity in the marketplace.
VIANET Technology Group Limited, formerly Pender International, Inc., previously announced the sale of its wholly-owned subsidiaries Montebello Developments Corp. and IMM Investments, Inc.
The release can also be viewed at http://www.pressreleasenetwork.com/newsroom.
CONTACT: VIANET Direct, Inc.
James Wilent, CEO / President
212-837-7701
Jwilent@vianetdirect.com
yupp... i have 1/10 shares of what i used to have.
plus Ameritrade charged me a $20 'mandatory share reorganization fee' :(
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07/01/05
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Free
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